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Gasoline Drops 22¢ Over Two Weeks to $1.75 a Gallon, Lundberg Says

The national average price of regular gasoline plunged another 22 cents in the two weeks ended Friday, to $1.75 a gallon, the lowest price in almost five years, according to the latest Lundberg Survey of filling stations released Sunday.

December 8, 2008

E&MU: Warming to Global Engines

Volvo AB and Daimler AG are producing global heavy-duty engine platforms for use in North America, Europe and Asia, and other manufacturers plan to introduce their own versions, pushed by converging emission regulations, the need to reduce research and development costs and to take advantage of economies of scale, according to industry analysts and executives.

December 8, 2008

Long Beach Port Delays Container Fee

Commissioners at the Port of Long Beach, Calif., on Dec. 1 voted to delay collection of an infrastructure cargo-container fee for at least six months.

December 8, 2008

Obama Chooses DHS, Commerce Secretaries

President-elect Barack Obama last week proposed a pair of governors to head the departments of ϳԹland Security and Commerce.

December 8, 2008

Celadon Group Buys Continental Express

Truckload carrier Celadon Group said it paid $24 million to acquire the truckload, intermodal and brokerage businesses of Continental Express.

December 8, 2008

Patriot’s Fiscal 4Q Income Rises

Tank and bulk carrier Patriot Transportation Holding earned $3.2 million, or $1.02 a share, in its fiscal fourth quarter, up from $2.3 million, or 74 cents, in the 2007 quarter.

December 8, 2008

N.Y. Enhanced Licenses Approved for U.S.-Canada Border Crossing

The U.S. Customs and Border Protection said it will accept Enhanced Drivers Licenses issued by the state of New York as an acceptable document to cross into the United States from Canada without showing a passport.

December 5, 2008

Cummins to Cut at Least 500 Jobs

Diesel engine maker Cummins Inc. said Friday it would cut “at least 500 jobs,” or 3.5% of its workforce, by the end of the year, due to “the continued deterioration in the U.S. economy and many other key markets around the world.”

December 5, 2008

Unemployment Rate Rises to 6.7%; Payrolls Drop Sharply

The U.S. unemployment rate rose to 6.7% in November from 6.5% in October, while payrolls fell by more than a half-million jobs, the biggest plunge since 1974, the Labor Department said Friday.

December 5, 2008

Oil Closes Week Near $40

Oil fell almost $3 Friday to close the week near $40 a barrel, the lowest closing price in four years, Bloomberg reported.

December 5, 2008